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On April 9, 2021, the U.S. Securities and Exchange Commission (SEC) Division of Examinations released a risk alert for investment advisers and funds related to environmental, social and governance (ESG) investing. The ESG Risk Alert provides (i) observations of deficiencies and internal control weaknesses from examinations of investment advisers and funds regarding ESG investing, (ii) effective practices from such examinations, (iii) risk areas to assist firms in developing and enhancing their compliance practices, and (iv) continued staff focus areas on ESG investing during examinations.
Observations of Deficient Practices
The ESG Risk Alert identifies instances of potentially misleading statements regarding ESG investing processes and representations regarding the adherence to global ESG frameworks, including the following observations:
SEC Warns Against Confusion in ESG Investments
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SEC Reiterates Examination Focus On Firms Engaged In ESG Investing - Finance and Banking
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Per the new version of the Safe Harbor proposal, if a project meets neither of the specified requirements, it will have a few months to register with the SEC as a securities issuer.
Providing regulatory clarity for the cryptocurrency ecosystem in the United States has never been easy. This may perhaps be because of the lack of preparation on the part of the authorities for such intrusive innovations as blockchain technology and its accompanying crypto inventions. The lack of regulatory clarity has spelled many woes for fintech firms building products in the nascent space, and the Ripple-SEC legal showdown is one of the many aftermaths of the unclear regulations in general. To address this challenge, Hester Peirce, a commissioner with the United States Securities and Exchange Commission made a crypto Safe Harbor proposal last year, citing amongst many things the need to give cryptocurrency startups some breathing space before they ar